The Mayr-Melnhof Group (MM) has successfully completed the acquisition of Essentra Packaging, which was agreed in June 2022, following the approval of all relevant competition authorities. The transaction includes 100% interest in ESNT Packaging & Securing Solutions Limited (UK) and 100% interest in Essentra Packaging US Inc (US) and its affiliated companies. With this acquisition, MM Packaging is expanding its range of folding boxes, package inserts and labels for the resilient and profitable healthcare & pharmaceutical market, creating an attractive platform for further growth.
Essentra Packaging comprises 21 manufacturing sites in 10 countries across Europe, the US mainland and Puerto Rico, ideally complementing MM Packaging's current position in pharmaceutical packaging in Scandinavia and France. Essentra Packaging employs around 3,500 people and reported sales of around £370m (currently around EUR 410m) for 2021.
Peter Oswald, CEO of the MM Group, explains: "Essentra Packaging is a game changer for MM, which positions us as a global player in the field of pharmaceutical secondary packaging and enables more innovation and investments in sustainability. We have identified attractive potential for synergies and increases in value, which we will use through the integration. Together with the Essentra Packaging team, we are well positioned to shape the future of pharmaceutical packaging."
|
